Reputation of Bitcoin in the Philippines.

[kjnfmplm]

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

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[Xester]

It will play a huge impact on the growth of bitcoin in the Philippines. For those old players of bitcoin they will not believe it and will just laugh at the news since the news is delivered in a way that makes bitcoin like an investment scam itself. But for those who have no idea how bitcoin works they will no longer accept bitcoin anymore since they will think that it is a scam investment before you can explain it to them.

[imyashir]

It will play a huge impact on the growth of bitcoin in the Philippines. For those old players of bitcoin they will not believe it and will just laugh at the news since the news is delivered in a way that makes bitcoin like an investment scam itself. But for those who have no idea how bitcoin works they will no longer accept bitcoin anymore since they will think that it is a scam investment before you can explain it to them.

You know that those stories are just laughing at old players bitcoin. But in this News we can not get rid of people's memory bitcoin is a scam. Due to TV news News Headline is BITCOIN SCAM, Bitcoin Newbie investors are affected especially the Filipinos possibility that they can withdraw their investment in bitcoin even if they are not in the ponzi or pyramiding system.

[reck1ess]

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

I see a huge melt down on trust rating on bitcoin here in the Philippines. The media is also biased in spreading the news they highlight the pyramid scheme not the people who have great results on investing in bitcoin.

[kjnfmplm]

It will play a huge impact on the growth of bitcoin in the Philippines. For those old players of bitcoin they will not believe it and will just laugh at the news since the news is delivered in a way that makes bitcoin like an investment scam itself. But for those who have no idea how bitcoin works they will no longer accept bitcoin anymore since they will think that it is a scam investment before you can explain it to them.

You're right. The current users doesn't have to be alarmed because they know where to buy bitcoins. I am just worried about the potential Bitcoin investors. Since they will not experience to use/earn a huge amount through bitcoin. But, I think that people will pass it as nothing happened since it is most likely that it is the first time that they heard it.

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

I see a huge melt down on trust rating on bitcoin here in the Philippines. The media is also biased in spreading the news they highlight the pyramid scheme not the people who have great results on investing in bitcoin.

You're absolutely right. But I think that the main reason is the people who get rich through bitcoin is not popular. Thus, they would be paying no attention to them since it will probably not be popular for the viewers. Media people only thinks about money, the money that they will earn.

[wilburwilbur]

not really . . i heard it on the radio too lol but those djs do not have that much knowledge about bitcoin and they said that most online currencies are scam
but oh well it will not affect much because Filipinos are getting knowledgeable on bitcoin because of the seminars from government and btc experts
hope that someone will create group for BTC news and knowledge

[Bakulman]

In my opinion the reputation of bitcoin in the Philippines will not be affected,it is not the bitcoin cryptocurrency that has fault regarding on this issue it is the scammers,although the investors will decrease for doubting in investing at bitcoin but it will not take for a very long time.besides when you invest on something that you want to gain you should also know how to risk,and surely for bitcoin the success will always follow by simply learning how to become patient.

[Edmatech]

I think it can affect, but filipino can be trusted anyway... Some not but most filipino is Literate when it comes to Cryptocurrency, and can be trusted..

[Pursuer]

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

it has 0 effect.

it is not the first time that some idiot(s) got scammed by some scumbags on the internet. it is always because they are greedy idiots around. and because this is not a new thing, people who matter most already know the situation and know what bitcoin is. they don't care that some idiots got scammed using bitcoin. they know better than be affected by it.

[LeGaulois]

It will have zero impact as long citizens are educated about Bitcoin and others cryptocurrencies.
Scams using Bitcoin, doesn't make the crypto itself a scam, otherwise the dollar is a scam since it's born.

It's up to you and your fellow to explain this to your patriotes

It will play a huge impact on the growth of bitcoin in the Philippines

I doubt that

[tayogpanganiban]

I think this news can little bit affect  all filipino investors,they might fear or withdraw their investment on bitcoin,but for all of us who understand bitcoin cannot really affect us.

[aliceayag]

For those new to crypto or just not knowing crypto currency they will feel afraid. But i think for those who knew all about bitcoin and how it works it is zero effect. They know how bitcoin really works.

[bakujo0817]

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

i think this negative impact will only affect for beginners or newbie in bitcoin in phillipines because they only just learning about bitcoin but for those trader and investors on bitcoin in phillipines this event will never affect to them because they really know that bitcoin is not pyramiding scheme and i agree with you this is event will slowing down the growth of bitcoin in phillipines.

[rxplcgna]

This time we have seen a lot of news about bitcoin in Southeast Asia, most of which are good news, although this news is a message about bitcoin swindling, but we should see more and more people in Southeast Asia pay attention to and like bitcoin in Southeast Asia. This is probably the next potential area for the development of encrypted communities.

[kjnfmplm]

It will have zero impact as long citizens are educated about Bitcoin and others cryptocurrencies.
Scams using Bitcoin, doesn't make the crypto itself a scam, otherwise the dollar is a scam since it's born.

It's up to you and your fellow to explain this to your patriotes

It will play a huge impact on the growth of bitcoin in the Philippines

I doubt that

Yes. That's true. But the main source of information for older people is the television or newspaper. Or even maybe radio broadcasts. So, their insights about bitcoin will be as a scam and they might not get into it because of the negative views that the media releases. So I believe that it will have a huge impact.

[St4yInTh3D4rk]

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

I don't think this may not have big impact on the crypto usage of phillipines because getting scammed is happening in everywhere not only in bitcoin but the chances for happening is less with bitcoin but still there are some stupid people got scammed.But it may create a rumors in Phillipines that bitcoin is a scam but people know what is bitcoin in phillipines already.

[XpanderaX]

it is true that a married couple who committed such a fraud deserve to be punished, because I think this news will worry the Investors in the Philippines. And of course it will affect investor confidence in security system on Bitcoin. I hope this does not affect the price of Bitcoin. And the Filipino people still believe and more and more are investing in Bitcoin.

[Slow death]

What will be the impact of this news to the Bitcoin investors in the Philippines?

the impact on Philippine investors will not be too great. Dude, it's not just a today that people make scams, since many years ago people lie, steal, kill and all people must be careful not to fall in the scam
 

Will it decrease?

It will not diminish because whenever you have a technology, an opportunity, people are always going to exploit this opportunity to scammy, and it is very important that people do research before investing in anything, and it is very important that people are not lazy and not trust other people to do their job, do you want to trade? so make a trade in person, do not give your money to a third party to trade for you. This is a big mistake.

[AmeSakibimasu]

It was really bad because the people thought that the bitcoin was scam but the reality of it the persons who use bitcoin are scammer.
Prevent online investment because we give our trust easily to everyone who really doesnt know, Don't let people fool you around always make the things sure.

[Pistachiop]

Scams have been around for a long time and there will continue to be scams. It will not affect it greatly and people will bounce back from it.